How to Determine Need

Calculating the Amount You Borrow

Before you apply for financial aid, please read the following information.

Living Expenses

Your award letter will indicate the maximum amount of funds that you may be eligible to borrow. It is important that you determine the amount(s) you will need to pay for school and to assist with living expenses. You can then request up to the maximum amount listed on your award letter. Please note that financial aid programs are not intended to maintain a lifestyle nor are they intended to fund mortgages or credit card debts.

Reasonable living expense allowances are based on housing status and include rent, food, and utilities. To estimate your monthly income and expenses, try the Budget Calculator at the direct loan website to create your in-school student budget: www.ed.gov/DirectLoan/calc.html

Cost of Attendance (COA)

The cost of education is the estimated amount you will need to cover costs related to attendance at Saybrook University for one academic year of study. The academic year is defined as two consecutive semesters of enrollment. The standard budget is constructed by using basic costs of living plus tuition and fees for your particular program of study. Check your award letter for your program of study for the cost of attendance breakdown.

Determining Your Financial Aid Package

The financial aid package is based on the expected family contribution (EFC) of both the student and spouse’s resources. This amount is determined by a financial needs assessment, which looks at assets, income, family size, and number of family members in college. The student’s financial need is the difference between the costs of education minus the expected family contribution.